According to PANews, the US Treasury Department has recently published its inaugural risk assessment report on Non-Fungible Tokens (NFTs). The report scrutinizes the tendency of NFTs to be misused by illicit actors. It highlights numerous risks associated with NFTs, including fraud, scams, copyright and trademark infringements, and vulnerabilities to money laundering activities. The report states, 'The assessment found that NFTs are highly susceptible to fraud and scams and are prone to theft. Moreover, some NFT companies and platforms lack appropriate control measures to mitigate risks to market integrity, as well as combat money laundering, terrorist financing, and sanction evasion. The assessment found that insufficient cybersecurity protection, challenges related to copyright and trademark protection, and the hype and price volatility of NFTs and NFT platforms, could enable criminals to commit fraud and theft related to NFTs and NFT platforms.'

According to PANews, despite an upward trend in April 2024, blockchain-based digital collectibles saw a slowdown in May. Data from tracking agency CryptoSlam indicates that the global sales of Non-Fungible Tokens (NFTs) in the past 30 days were $624 million. This is a 54% decrease compared to April when NFT sales exceeded $1 billion. Bitcoin-based NFTs topped the sales in the past 30 days with over $179 million. However, this is a 68% drop compared to April. Meanwhile, Ethereum and Solana, the second and third highest-selling blockchains, also experienced a decline in May. The data shows that the sales of these two blockchains decreased by 55% and 48% respectively. Among the top 10 NFT series, Solana-based Mad Lads and Ethereum-based series CryptoPunks and Bored Ape Yacht Club (BAYC) saw the largest declines. BAYC experienced the most significant drop in sales, with a decrease of 54%. Mad Lads' sales fell by 44%, while CryptoPunks' sales dropped by 41%.

According to PANews, Mint Blockchain, an Ethereum L2 network focusing on the NFT sector, has successfully raised $5 million in a seed funding round. The investors include Jsquare, SNZ Capital, Antalpha Ventures, Mask Network, BlockAI Ventures, Predator Capital, GoPlus, Whitelist Ventures, PANONY Group, and individual investors such as Victor, the founder of Smart Token Labs, and Mike, the founder of GoPlus. The funds raised will be used for global market brand building and NFT infrastructure development for Mint Blockchain. In addition to successfully completing the seed funding round, Mint's main network was launched in May 2024. Currently, the Mint main network has over 400,000 active users and supports more than 80 applications. The Mint Blockchain is an Ethereum L2 network jointly launched by NFTScan Labs and the MintCore development team. It is built on the open-source development stack OP Stack, developed and maintained by the Optimism Collective. As an EVM-compatible network and a true Ethereum L2, developers in the Ethereum ecosystem can seamlessly extend their projects to the Mint Blockchain network.

According to Foresight News, ChainGPT has entered into a partnership with Arbitrum. This collaboration will allow developers and builders to use ChainGPT's AI NFT generator to directly mint NFTs on Arbitrum, thereby enhancing NFT creation and blockchain integration. This partnership aims to provide a more streamlined process for NFT creation and integration into the blockchain. The use of ChainGPT's AI NFT generator on Arbitrum's platform is expected to bring about significant improvements in the NFT space.

Football superstar Cristiano Ronaldo is launching his latest NFT drop, "Forever Worldwide: The Road to Saudi Arabia", giving collectors a unique opportunity to meet him in person and hold a slice of his football legacy in their digital collection. The NFT series maps Ronaldo's career journey, from Madeira to Saudi Arabia, with each NFT representing an iconic location. Each NFT is generated with a 'Collect to Earn' mechanism and a 'Fastest to Collect' feature, providing holders with various benefits such as match tickets and vintage football jerseys. Of special note is the Super Super Rare (SSR) Portugal NFT, which offers an in-person meet-and-greet with Ronaldo. The campaign, starting from May 29 through to June 14, 2024. To celebrate Cristiano’s participation in the European Championships, Binance users will have a fee-free experience purchasing CR7 NFTs on Binance Marketplace on select dates.

According to Odaily, gaming company Square Enix has launched its NFT project, SYMBIOGENESIS, on Arbitrum. The project will conduct NFT auctions on the Arbitrum chain. The auction of 1500 NFTs under SYMBIOGENESIS is set to commence on May 31 at 10:48 Beijing time. Square Enix, a renowned gaming company, has taken a significant step into the world of NFTs with the launch of its project SYMBIOGENESIS on Arbitrum. The project will leverage the Arbitrum chain to conduct its NFT auctions, marking a significant milestone in the company's foray into the blockchain space. The auction, which is set to kick off on May 31 at 10:48 Beijing time, will feature 1500 NFTs from the SYMBIOGENESIS project. This move by Square Enix underscores the growing interest and investment in NFTs by major companies across various industries.

According to Odaily, the value of PEPE, a leading non-fungible token (NFT), has dropped to $6.2 billion, slightly lower than its historical high of $6.9 billion on May 27. The cumulative value of the top 30 NFT projects is slightly above $4 billion. Leading NFT projects such as CryptoPunks, Bored Ape Yacht Club (BAYC), and Pudgy Penguins have market values of $1.2 billion, $488 million, and $365 million respectively. CryptoSlam's 500 NFT index, which tracks the top 500 NFT series, has seen a year-on-year decline of 40%. Since the platform began recording prices, the index has fallen by 95%. According to Dune's data dashboard, the number of active NFT traders has also been on a noticeable downward trend. OpenSea, once a top market, has seen a more than 90% drop in weekly traders, from 187,000 in June 2022 to less than 10,000 currently. Most other NFT platforms, such as Blur, Magic Eden, and LooksRare, have had similar experiences to OpenSea. The total number of weekly traders across all platforms has plummeted from 201,000 in June 2022 to 24,300 today. Meanwhile, despite PEPE's price dropping by 8%, it has surged tenfold over the past year.

According to Odaily, Franklin, a prominent figure in the Non-Fungible Token (NFT) space, has announced his role as a validator for the Blast Ecosystem's Meme project, Pacmoon. He currently holds 10,000 PAC tokens. Franklin's involvement in the project is significant due to his status as a 'whale' in the NFT market, indicating a substantial investment and potential influence on the project's future direction. The Blast Ecosystem's Meme project, Pacmoon, is likely to benefit from this association, given Franklin's reputation and influence in the NFT space. This development marks a significant milestone for the Blast Ecosystem and its Meme project, Pacmoon, as they continue to expand and evolve in the dynamic and rapidly growing NFT market.

According to PANews, OpenSea, a marketplace for non-fungible tokens (NFTs), has announced its support for NFTs on the Sei network. Users can now buy, sell, or bid on NFTs on the Sei network. This development expands the options for users to engage in NFT transactions.

According to Odaily, NFT perpetual contract trading platform, Nftperp, has announced its decision to concentrate on the Blast blockchain. As part of this strategic shift, the platform will be closing down the Arbitrum market. Starting from today, Arbitrum traders are encouraged to adjust their positions accordingly. Prior to market settlement, the initial margin requirement for new positions will be increased to 50%, equivalent to a two-fold leverage. To ensure a smooth transition, all unsettled positions on Arbitrum will be automatically settled on Monday, June 3rd. This settlement will be based on the tracking index price of the past seven days. Nftperp has advised its users to complete their transactions before this date in order to manage their positions as needed.

According to Odaily, data from NFTScan Multichain reveals that as of May 29, more than 3.88 million Non-Fungible Token (NFT) collections have been deployed on the blockchain. The total issuance of NFTs has reached 1.84 billion, with an overall market value of approximately $273.3 billion. The trading volume has hit $1,046.5 billion. NFTs, unique digital assets that represent ownership of a specific item or piece of content, have seen a significant surge in popularity and usage. The data indicates a robust and growing market for these digital assets, with a substantial increase in the number of NFT collections deployed on the blockchain. The total market value of these NFTs, standing at $273.3 billion, demonstrates the substantial economic impact of this digital asset class. Furthermore, the trading volume reaching $1,046.5 billion underscores the high level of activity and interest in the NFT market. This data provides a snapshot of the current state of the NFT market, highlighting the significant growth and potential of this digital asset class. As the blockchain technology continues to evolve and mature, the NFT market is expected to continue its upward trajectory.

According to PANews, despite the significant changes in the NFT market, the Biden administration still perceives potential dangers to consumers. The US Treasury Department will outline these concerns in its first-ever NFT risk assessment, which is set to be released today. Deputy Secretary Brian Nelson will also discuss this issue at the CoinDesk Consensus conference in Austin. The Treasury Department will warn that NFTs are highly susceptible to fraud and scams, and can easily be stolen. While it will emphasize that NFTs can be used to launder criminal proceeds, so far, unlike fraudsters, the Treasury Department has found little evidence to suggest that terrorists and weapons proliferators are abusing NFTs.

According to PANews, Devin Finzer, co-founder and CEO of OpenSea, recently shared his insights on the current state and future of Non-Fungible Tokens (NFTs) and the digital market. Despite speculations about the decline of NFTs, Finzer presented a clear vision of continuous growth and innovation. He emphasized that NFTs are far from extinct, with the market showing increasing interest in gaming and physical-backed NFTs. OpenSea has collaborated with Courtyard on a project involving Pokémon cards and has partnered with leading game developers like Parallel and Revolving Games. Finzer stated, 'We see new use cases emerging on OpenSea constantly. Ensuring OpenSea becomes a home for all types of NFTs is crucial for joining the next wave of the NFT surge.' OpenSea has also revamped its collection page, providing creators with a richer, customizable page to tell their project stories. Finzer mentioned that the platform is committed to evolving with new practical trends, ensuring the market remains one of the best places to buy, sell, and collect NFTs. Currently, OpenSea's main focus is enhancing the user gaming experience. The company has launched immersive game trailer videos and new exchange standards to enhance the core user experience. Finzer believes that gaming is a great example where highlighting gameplay through videos is crucial, and the massive gaming industry is expected to drive NFT applications. As more and more gamers become first-time NFT owners, a frictionless onboarding experience becomes crucial. He also highlighted the potential of interoperability, where items or statuses obtained in one game can unlock experiences in another through open digital ecosystem standards. The recent rise in the crypto market has sparked innovation, and infrastructure improvements have made NFT trading more attractive and cost-effective. Finzer believes these developments are crucial for the next wave of users. For instance, OpenSea's new 'cold start' onboarding experience has simplified the wallet creation process and expanded the use of fiat currency payments. Users only need an email to create an OpenSea account with a self-hosted wallet. This integration allows users to seamlessly buy, sell, send, and receive digital assets and NFTs, which is a crucial step for newcomers to the crypto ecosystem. Finzer also expressed admiration for the leading companies in the Web3 gaming field, such as Parallel. He believes that the expansion of utility-supported NFTs is crucial for industry development. Despite the volatility of the NFT market, Finzer remains optimistic about its future. He hopes to continue developing new features and creating new opportunities to ensure the company's leading position in the NFT field. Finzer's insights dispel the notion that 'NFTs are dead.' Instead, these digital assets are continuously evolving, with new use cases, improved infrastructure, and innovative features driving the development of this field.

According to Odaily, Jesse Pollak, the head of Base Protocol, has announced a unique incentive for participants in the upcoming Base ecosystem hackathon, known as the buildathon. In a post on platform X, Pollak cited an official Base tweet, stating that those who sign up for the buildathon will receive a special non-fungible token (NFT). Furthermore, Pollak added an intriguing challenge for the participants. If they manage to help Base Protocol break through the $10 billion total value locked (TVL) mark, he pledged to shave his head. This unusual promise adds an element of fun and competition to the event, while also setting a high goal for the participants to strive for. This announcement is part of Base Protocol's efforts to engage and reward its community, while also driving growth and innovation within its ecosystem. The use of NFTs as rewards is a reflection of the growing trend in the blockchain and cryptocurrency sector, where these unique digital assets are gaining increasing recognition and value.

According to Odaily, SmartLayer has officially announced its integration with the multi-chain self-hosted wallet, TokenPocket. This collaboration will allow users to view and interact with ERC-5169 NFTs through the smart token viewer on the TokenPocket wallet. The integration is a significant step forward in enhancing the user experience by providing a seamless interface for viewing and interacting with NFTs. The ERC-5169 NFTs are a type of non-fungible token on the Ethereum blockchain, which are unique and cannot be replaced with something else. This collaboration between SmartLayer and TokenPocket is expected to bring about a more user-friendly and efficient way of managing and interacting with NFTs. It is a testament to the continuous efforts of both companies to improve their services and provide better solutions for their users.

According to Odaily, Elixir Games has officially announced the launch of its Elixir NFT IDO round. In the initial six hours, Flask holders are guaranteed to receive ELIX allocations, with each NFT valued at a maximum of $350. Following this, Flask NFT holders will have the opportunity to participate in a first-come, first-served basis for 18 hours or until the offerings are sold out. The announcement by Elixir Games marks a significant development in the NFT space, as it provides an opportunity for Flask holders to benefit from the launch. The guaranteed ELIX allocation for Flask holders in the first six hours and the subsequent first-come, first-served basis for 18 hours or until sold out, provides an avenue for participants to potentially gain from their investments. This move by Elixir Games is seen as a strategic step in the rapidly evolving NFT market. The guaranteed allocation and the first-come, first-served basis offer not only provide an opportunity for Flask holders but also contribute to the overall growth and development of the NFT market.

According to Foresight News, the all-chain AI gaming ecosystem, Cellula, has successfully completed a comprehensive security audit conducted by BlockSec. The company has officially open-sourced its core algorithms and code. The audit covered two main contracts, Cell and Life, as well as an energy claim auxiliary contract. The code is now open-source, and community members can access, view, and contribute to it. Cellula uses a distribution mechanism based on Variable Rate Gradual Dutch Auctions to determine the pricing of NFT issuance. When market heat exceeds expectations, prices rise; when market heat is below expectations, prices fall; when market heat matches expectations, prices remain unchanged. Cellula has two types of NFTs: the limited-edition BitCell, which has not yet been launched and has a total of 10,220; and BitLife, which is created by leasing BitCell and undergoing synthetic casting, and has no upper limit on its total amount.

According to Odaily, recent data indicates a general decline in the floor prices of blue-chip NFT series over the past week. The Bored Ape Yacht Club (BAYC) reported a temporary floor price of 12.25 ETH, marking a 9.82% decrease over the past seven days. Similarly, Pudgy Penguins saw a floor price of 10.55 ETH, reflecting a 7.37% drop in the same period. The Mutant Ape Yacht Club (MAYC) reported a floor price of 2.09 ETH, a significant 17.75% decrease over the week. Azuki's floor price was temporarily reported at 4.35 ETH, marking a 13.8% decrease in the past seven days. DeGods also experienced a drop in floor price, reporting at 1.34 ETH, a 22.58% decrease over the week. Lastly, LilPudgys reported a floor price of 0.85 ETH, marking a 17.79% decrease over the past seven days. These figures highlight the volatility and fluctuating nature of the NFT market, with prices of even the most established series experiencing significant changes within short periods.

According to PANews, the NFT project '2426C', led by Chen Guanxi in February 2022, is suspected to have collapsed. There have been no updates on the official Twitter and Instagram of '2426C' since April 6, 2023, and the Discord channel appears to be quite deserted with no signs of operation. Attempts by netizens to inquire about the situation on Chen Guanxi's Instagram account have gone unanswered. In the early stages of the project, Chen Guanxi shared an NFT that had the highest transaction price at the time. However, its value has plummeted from 18.88 ETH to the current 0.025 ETH. Furthermore, it was reported that the total income from the NFTs Chen Guanxi endorsed was approximately 38 million RMB. In addition to Chen Guanxi, NFT projects endorsed by other artists such as Yu Wenle are also nearing zero. This situation raises questions about the sustainability and profitability of such projects, and the potential risks for investors.

According to Foresight News, the second phase of the 'Foresight Dragon Year Commemorative NFT' has officially begun. Users who register with Foresight News before March 31 this year can apply for the whitelist. Eligible users can participate in the public minting of NFTs on May 31 at 15:00, provided they fill in the corresponding information and pass the review by May 29 at 15:00.